City Review

Toronto City Review

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Toronto is the economic engine of Canada, generating a fifth of the country's total GDP and being the most populous city with 6.2 million people in 2016. Business services dominate the economic sphere of the city, generating 40% of local GVA in 2016. Among recent developments in Toronto is a surge in tourist arrivals. On the downside, the city is struggling with expensive housing.

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TORONTO HIGHLIGHTS

Toronto is the largest city in Canada, and the leading economic, commercial and financial centre in the country. Thanks to its highly valued financial industry, which is among the world's most developed, Toronto's labour productivity (GVA per employee) exceeded the rest of the country's average by 17% in 2016.

Concentration of high value-added business services and a bigger average household size boost income

The concentration of high value-added business services and a bigger average household size in Toronto translate into higher incomes. Disposable income per household was 36% higher in Toronto than in the rest of the country as of 2016.

Higher spending on education, and clothing and footwear

Transport and housing excluded, consumer expenditure per household in Toronto was 25% above that in the rest of Canada in 2016. Education (+254% more spending in Toronto) and clothing and footwear (+49%) stand out the most in terms of average absolute spending differential between households in the city and other parts of the country.

Greater expenditure on transport and housing

Households in Toronto spent 31% more on transport and housing combined compared to their counterparts in other regions of Canada in 2016. Speculation is said to be driving up house prices in Toronto, whilst public transport tends to be expensive.